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Credits
The UEG Credit (abreviated to cR) is an international and interplanetary form of a currency and exchange medium that is used on Human worlds. It is the standard currency that is used alongside local currencies of multiple worlds. Credits have found their use in trading with other worlds using a standardized system which allows quick translations in price. Credits are frequently shortened to 'Creds' as shorthand. Description Credits have been in use since the first interplanetary colonies between Earth and Mars in the 22nd Century. They were enacted as a way to easily facilitate trade and commerce between the planets. Credits are traditionally electronic-based, were an individual can simply use a 'Credit Chip' to access a bank account for common transactions, which is different than a credit card. Credits work best through an electronic medium, but physical notes are also used, when a person would like to hold on to their money. Bills and change are also issued. Originally, credits were intended to be a fully integrated into society, as it was the case for a while, with virtually all prices being listed in credits while local currencies. However, with the end of the Human-Covenant war in 2553 and with the rebuilding of Humanity, the UEG decided that the Credit was better suited to be an interstellar currency medium rather than simply a universal one. It was far too expensive to maintain the effects that planets could have on the Credit's value. This was a good decision on the part of the UEG as it allowed a much more stable trading medium that would only be affected by one place only - the Great Stock Markets. These locations were the main deciders of the Credit's worth. From there, planetary populations that chose to use a credit could not affect the value of the currency on a small scale. Only Stock Markets could affect those. Local currencies could be converted to a credit using pre-established ratios based on looking at the rates when the currency was first alligned with the Credit, and where it was now. The difference in price (accounting for inflation) would influence how much one would recieve when buying Credits and when selling them too. Though most major planets had at least one quantum communication connection to a major stock market, planets that relied on Pony Express-style messages needed to wait for ships that carried banking data. This data would be used by the citizens of the planet to see what the credit was worth. This allowed prices to be changed and accounted for since interstellar distances played into this. For instance: one planet uses a Dollar as currency and another planet uses a Yuan as a currency. Planet A has a quantum connection back to Earth which allows them to be up to date on banking information. Planet B does not have such a connection. Both planets use a 1:1 ratio as an example. An update comes from the stock market that one Credit is now worth twice as much as it was before. Planet A can immedietely account for the changes thanks to its connection. Planet B has to wait, potentially for months on end, to hear the same news. When a freighter arrives with the banking information aboard it, the prices can be changed for Planet B. However, by this time, the Credit has doubled in value again, resulting in the Credit being worth 4 dollars now, while planet B still only has it worh 2 yuan. The Credit system, while not perfect, is the best way to use an interstellar economy that has access to Slipspace. Appearances *Journal of Sally Acorn (First Named) *Deception Category:Lore Category:Currency